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UBS has boosted Kingfisher from a “neutral” to a “buy” rating with its target price rising from 440p to 470p. The broker believes the home improvement retailer’s proposed deal to buy the French hardware firm Monsieur Bricolage could boost earnings per share by two per cent.
Bernstein has downgraded BT to “market-perform” on the back of fears it may overspend in the upcoming Premier League broadcast rights auction, risks of increased fibre regulation and growing competition from Sky and Virgin Media. The broker maintained its target price of 385p.
Espirito Santo Investment Bank has come out in support of Lancashire despite its total return being down 13 per cent. Its analysts have upgraded their rating from “neutral” to “buy” because they believe the insurance company has been unfairly penalised.